Crypto Tax Guidelines:Australia

Australia's government wants to hear from the public about its treatment of cryptographic forms of money

The Australian Tax Office (ATO) said Monday that it has refreshed its rules for cryptographic forms of money on Mar. 13, following an increase in queries from taxpayers.

"Specifically, we are interested with any practical issues that may effect on taxpayers' capacities to ascertain and significant any capital increases and misfortunes for (digital currency) capital additions impose (CGT) purposes," the agency clarified on its site.

On a more extensive level, digital currency tax assessment has been, maybe, a contentious issue within Australia. Already, backers and clients extensively condemned the way that the two buys of digital money and expenditures made with the tech triggered a Goods-And-Services Tax (GST).

"Digital Currency Tax Assessment"